The Historic Tax Credits program (HTC) is at imminent risk of being eliminated in the upcoming vote on federal tax reform. Playhouse Square strongly supports the preservation of this program and hopes you will help advocate for its preservation.
Playhouse Square used the HTC financing tool to:
- complement capital campaign funds to revitalize a near-vacant, century-old building into the Idea Center, preserving its character and charm while providing a downtown home to ideastream, several creative and technology companies, and next fall, the Cleveland State University Film School.
- make the Cleveland State University Arts Campus at Playhouse Square (Middough Building) achievable.
- renovate the Hanna building and theater.
Through our own work, and that of our friends at the Cleveland Restoration Society, Downtown Cleveland Alliance and the League of Historic American Theatres, we can attest to the power and promise of the HTC program which helps strengthen communities and create jobs.
This Downtown Cleveland Alliance blog post contains more information about why these credits are valuable to development in Ohio and the nation, and includes ways you can help advocate for their preservation.